As I said on my first post, I do my own way to Larry Williams „Trading Day of the Month” concept. And this is a weekly sequence coming from statistics reports I developed. We will see information for 28th week of the year, 8 – 12 of July 2019.
Sequence says if we have in next trading week one-way move on each market. I accept max one “correction” day with opposite direction. Statistic numbers claim an average strenght of sequence. I will push myself to publish each day statistics also on this blog for all of You.
Let me explain main ideas with reports:
- I study statistics for two periods: maximum I had access to (on each market it’s different lenght) and on last 10-years period.
- To count “strong intraday signal” I assume it has to be more than 70% for long period and minimum 80% for 10-year period.
- Having minimum strenght on both long- and short-term period will become my “Trading Day of the Month“.
Sequences
Let’s get to numbers and sequences for upcoming days:
- DAX: there is four-session long sequence (63,3%) for 10-years period from Tuesday, 24-years period is without sequence;
- FTSE100: long sequence (58%) for 19-years period with correction on Wednesday (68%), 10-years period same long sequence (65%) with Wednesday correction (60%);
- WTI: there is a long sequence (60,2%) for 36-years period without correction, for 10-years period we have no sequence;
- gold: this week there is four-session long sequence (57,5%) for 44-years period, same four-session long sequence (65%) for 10-years period;
- dollar indes (DXY): for 12-years period there is no sequence;
- S&P500: this week 19-years period there is long sequence (64,2%), for 10-years period there is four-session long sequence (72,5%) starting on Tuesday;
- NASDAQ: there is no sequences for both periods;
- Dow Jones: there is long sequence (68,25%) for 19-years period with Wednesday correction (53%); same long sequence (75%) with Wednesday correction (60%) for 10-years period.
Signals strenght
Germany DAX shows sequence with average 270 points, but only one strong intraday signal on Friday (for 24-years period)
FTSE100 has sequence with average 180 points range (19-years period) or 195 points (10-years period), but without strong intraday statistics.
Oil WTI has long sequence for 36-years period with average range $2,88. There is no strong intraday statistics.
Gold shows sequence for 44-years period with average range of $18, 10-years period average range of sequence is $34. There is only one strong intraday signal – on Wednesday.
Dollar index (DXY) no sequences and no strong statistics signals this week.
S&P500 has strong statistics on Thursday and Friday. Sequence for 19-years period has average range 42 points, for 10-years period range is 33,9 points.
NASDAQ has one strong signal – on Friday. No sequences.
Dow Jones Industrial Average shows seuqences with strong statistics on Thursday and Friday. For 19-years period we have 319 points of average range, 10-years period has 361 points. For this last one we can expand sequence for first four sessions next week (till 18th of July) to get sequence with strenght 71,25% and average range 628 points.